Mary Drennen - John J Lease Realtors Logo
$2,100,000
( $403.85Per Sq Foot )
 $11,273 est/mo Sourced by Back At You

1223 Fulton Street,Brooklyn, NY 11216

Brooklyn, NY 11216

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Description

1223 Fulton Street, Brooklyn, NY 11216 Prime Mixed-use Investment property / Fully Occupied / STRONG CASH FLOW PROPERTY OVERVIEW Exceptional income-Producing mixed-use building located along one of Brooklyn's most vibrant and active commercial corridors- Fulton Street. This property features (3) spacious two-bedroom apartments and (3) spacious one-bedroom apartments also (1) huge commercial retail space on ground-floor, offering investors a well balanced and diversified income stream in a thriving and rapidly appreciating neighborhood. INVESTMENT SUMMARY Asking Price $2,100.000 current Monthly Rent Roll: $16,309 Annual Gross Income: $195,708 Current Cap Rate: Approx. 6.99% (All residential and retail units fully leased) RESIDENTIAL UNITS ARE UNDER RENT CONTROL . Configuration: 6 Residential Units + 1 Retail Units Zoning: Mixed-Use (Residential + Commercial) PROPERTY HIGHLIGHTS Turnkey Income Producer: Fully leased and generating immediate returns. : Strong rental demand with opportunity for future rent growth. One Established Retail Tenants: Stable, long-term businesses providing consistent cash flow. Strong In-Place Income: $195,708 annual rent roll with low operating expenses. Solid Brick Construction: Well-maintained structure with dependable systems and minimal maintenance needs. Low Management Burden: Ideal for passive investors or 1031 exchange buyers or Owner -users looking to add a solid income-producing asset in a growing neighborhood. LOCATION ADVANTAGE Situated along Fulton Street, one of Brooklyn’s most historic and continuously developing retail arteries, this property benefits from exceptional visibility, heavy foot traffic, and easy transit access. Near A, C, subway lines and multiple MTA bus routes. Surrounded by retail, dining, schools, and residential density driving strong tenant retention. Minutes from key neighborhood hubs, community developments, and new mixed-use projects that continue to elevate property values. High-demand rental area offering long-term appreciation and sustained occupancy. INVESTMENT OUTLOOK With NYC’s rental market at record highs and Brooklyn’s mixed-use assets in constant demand, 1223 Fulton Street presents a rare opportunity to secure a performing, high-yield property in an established yet upward-trending corridor. This asset delivers: Immediate Cash Flow from day one. Strong Long-Term Growth Potential through rent appreciation. Diversified Stability across residential and retail income streams. Whether expanding your Brooklyn portfolio or seeking a secure 1031 exchange replacement property, this investment combines cash flow, stability, and location the core fundamentals of any high-performing NYC asset. SUMMARY A true Brooklyn investment gem offering both income and upside fully occupied, established commercial tenants, and prime location within a dynamic retail corridor. 1223 Fulton Street stands as a testament to enduring value and urban opportunity an investment built for today’s returns and tomorrow’s appreciation.

Details

MLS #967517
Listing TypeFor Sale
StyleMulti-Family
Sub-TypeResale
StatusActive
Year1910
Days On Site177
Listing Provided ByExit Realty Continental | Mohammed Rasel

Features

SQ Feet5,200
BasementY
Units7
Acreage0.05

Interior

CoolingWall/Window Unit(s)
HeatingBaseboard, Electric, Natural Gas

Exterior

Construction MaterialsBlock, Brick, Stucco

Parking

Parking FeaturesOff Street

Utilities

UtilitiesElectricity Connected, Natural Gas Connected, Sewer Connected, Trash Collection Public, Water Connected
SewerPublic Sewer

Taxes

Tax Year2025
Tax Assessed Value469350
Tax Annual Amount18503.12

Area Information

StateNY
CountyKings (Brooklyn)
CityBrooklyn
Zip Code11216
School DistrictBedford Academy High School
Elementary SchoolPs 3 Bedford Village
High SchoolBedford Academy High School
Listing VS Median (in 11216)
Price:
$2,100,000
low | high
Med:
$1,650,000
71.428571428571% of Average
sqft:
5,200
low | high
Med:
3,200
88.461538461538% of Average
$ / sqft:
$404
low | high
Med:
$516
22.321428571429% of Average
On site:
177
low | high
Med:
126
100% of Average
Sourced by Back At You

Market Activity 11216

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Learn More About This Property

Mary Drennen

Mary Drennen

John J Lease REALTORS

 (914) 456-1749marydrennen1@gmail.com
StateNY
CountyKings (Brooklyn)
CityBrooklyn
Zip Code11216
School DistrictBedford Academy High School
Elementary SchoolPs 3 Bedford Village
High SchoolBedford Academy High School
Listing VS Median (in 11216)
Price:
$2,100,000
low | high
Med:
$1,650,000
71.428571428571% of Average
sqft:
5,200
low | high
Med:
3,200
88.461538461538% of Average
$ / sqft:
$404
low | high
Med:
$516
22.321428571429% of Average
On site:
177
low | high
Med:
126
100% of Average
Sourced by Back At You
Nearby Listings (Within 1/10 mile)
Price: $1.575M - $2.625M
sqft: 3,500 - 6,500
Nearby Listings Property ImageNearby Listings Details
35 Herkimer Street Property Photo 1
$2,300,000
35 Herkimer Street
Brooklyn, NY 11216
1166 Fulton Street Property Photo 1
$3,500,000
1166 Fulton Street
Brooklyn, NY 11216
64 Hancock Street Property Photo 1
$1,599,995
64 Hancock Street
Brooklyn, NY 11216
Listing Updated: August 17, 2026 at 12:12:12 PM PDT

Mary Drennen - John J Lease Realtors